You're probably familiar with the concept of net worth - it's what you hear these days because of all the controversies regarding the wealth of our public servants. Don't fret too much though. You don't need to be a government employee or super billionaire to calculate your net worth: here's a simple net worth template that you can use!

Why? I'll tell you why - here are 5 perfectly valid and good reasons why you should take the extra effort and determine your net worth:

1. It gives you a financial snapshot of your financial condition at this time.

2. Because of your net worth, you can know which specific areas you need to work on - do you have forgotten investments, or worse, forgotten debts? A clear net worth value can help you find these out.

3. A net worth gives you a figurative slap in the cheek: if you owe more than you own, you may be motivated to do some planning and goal-settingfirst. 4. It can also give you a figurative tap on the back: knowing that you're aligned with your goals makes you feel good. 5. Some lending institutions also ask for your net worth when you're applying for a loan so having one is already handy and convenient. (You can just ask a professional to check what you've produced.) What's the formula to get your net worth?

Dude, I'm not asking you to do Integral Calculus or any Organic Chemistry formula right now. You only need to ADD and SUBTRACT numbers! How cool is that? Net worth = Your Assets - Your Liabilities If you don't like computing manually, here's asimple spreadsheet to get your net worth in only a matter of minutes. What are your assets? (What you own)

Looking for a credible, professional and approachable financial advisor to help you reach your financial goals? You're in the right place.

Hi! Thank you for dropping by and visiting my page!

I am Lianne Laroya, RFP, a multi-awarded Financial Advisor of Sun Life Financial. I'm authorized by the Insurance Commission to act as Insurance Agent and by the Securities and Exchange Commission to act as Investment Solicitor.